Masthaven has reduced the rates it offers on its first charge bridging products to its selected panel of premier partners.

These rates are now 0.49% with a loan to value (LTV) up to 40% and 0.54% up to 50% LTV.

They can be obtained through its panel of premier partners only at this stage.

Jonathan Caplan, director of First 4 Bridging, said: “Since the start of the new year, it’s been clear that we’ve seen something of a rate war amongst bridging lenders particularly low level LTV products on residential business for those with clean credit records.

“Masthaven’s decision today to drop its rate down to 0.49% for both regulated and unregulated business in this space is a further indication of the highly competitive nature of bridging at present, and we, at First 4 Bridging, are very pleased to be one of a few select bridging brokers that have access to this rate.

“The market is moving particularly quickly – and there will most likely be further responses to these changes – so we would urge advisers to make use of our expertise in this area, and the access we have to these excellent rates, in order to help them secure their client the best product available.”